Indian Startups Secure Over $462 Million in a Robust Funding Week
Click to start listening
Synopsis
This week, the Indian startup ecosystem saw a significant increase in funding, with 19 startups raising approximately $462.27 million, showcasing growth across various sectors, particularly fintech and edtech.
Key Takeaways
- 19 startups raised a total of $462.27 million.
- Majority of deals occurred in Bengaluru.
- Fintech and edtech sectors attracted significant investments.
- Seed funding was the most popular investment stage.
- Leadership changes were observed in key startups.
New Delhi, March 15 (NationPress) The Indian startup ecosystem experienced a remarkable uptick in funding this week, with 19 startups raising a total of approximately $462.27 million.
The investments were distributed across six growth-stage and ten early-stage deals, while three startups opted not to disclose their funding specifics.
This represents a significant increase compared to the previous week, when 30 startups garnered around $355.02 million.
Bengaluru maintained its position as the leader in startup funding, accounting for ten deals this week. Significant activity was also noted in Mumbai, Delhi-NCR, and other cities.
In terms of industry sectors, fintech and edtech startups led the funding rounds with three deals each, while gaming, healthtech, and energy startups secured two deals each.
Additional sectors such as e-commerce, aerospace, and manufacturing also attracted considerable investor interest.
The growth-stage segment highlighted notable deals, including a Series B round for the cross-border neobanking startup Zolve, led by Craegis.
Specialty chemicals sourcing platform Scimplify raised $40 million in a Series B round, mirroring the same amount raised by luxury fashion platform Purple Style Labs in a Series E round.
Other companies that received funding this week included aerospace firm Ransons Aerospace, SaaS platform Infinite Uptime, and Incred Finance.
In early-stage funding, ten startups collectively raised $29.77 million. The renewable energy company Amrut Energy led this segment with an $11.5 million investment, followed by energy storage startup AmpereHour, hospitality platform goStops, mobile game publisher Felicity Games, and admissions platform Ambitio.
Some startups, including upskilling platform Weskill, edtech company Dreamtime Learning, and battery technology firm Flowatt Battery Science, also secured funding but did not disclose the exact amounts.
Seed funding remained the most favored investment stage, with four deals, followed by pre-seed, Series A, pre-Series A, and Series B rounds.
This week also witnessed significant leadership changes. Daman Soni, former President and Chief Business Officer at GlobalBees, joined AstroTalk as Chief Business Officer (CBO).
Edtech unicorn PhysicsWallah appointed Nitin Savara, Rachna Dikshit, and Deepak Amitabh as non-executive independent directors.
